Holocene Advisors LP Increases Stock Position in Shake Shack Inc. (NYSE:SHAK)

Holocene Advisors LP boosted its position in Shake Shack Inc. (NYSE:SHAK) by 68.3% in the 3rd quarter, Holdings Channel reports. The fund owned 946,350 shares of the company’s stock after purchasing an additional 384,131 shares during the period. Holocene Advisors LP’s holdings in Shake Shack were worth $97,673,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SHAK. Quest Partners LLC purchased a new position in Shake Shack during the second quarter worth about $38,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Shake Shack during the third quarter worth approximately $41,000. Kimelman & Baird LLC purchased a new stake in Shake Shack during the second quarter valued at about $45,000. Covestor Ltd lifted its position in Shake Shack by 41.6% during the third quarter. Covestor Ltd now owns 698 shares of the company’s stock valued at $72,000 after buying an additional 205 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Shake Shack by 24.7% in the 2nd quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $94,000 after acquiring an additional 207 shares during the period. 86.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SHAK has been the topic of a number of recent research reports. JPMorgan Chase & Co. restated an “underweight” rating and set a $102.00 price objective (down previously from $105.00) on shares of Shake Shack in a research note on Tuesday, September 24th. TD Cowen restated a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a research note on Wednesday, September 18th. Bank of America lifted their price target on shares of Shake Shack from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Barclays increased their price target on Shake Shack from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $115.00 target price on shares of Shake Shack in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $112.94.

Shake Shack Price Performance

Shares of SHAK opened at $134.10 on Monday. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 786.65, a PEG ratio of 3.04 and a beta of 1.81. The company has a current ratio of 2.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $116.51 and its 200 day simple moving average is $102.36. Shake Shack Inc. has a 1-year low of $60.84 and a 1-year high of $134.90.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. Shake Shack had a return on equity of 6.28% and a net margin of 0.68%. The business had revenue of $316.92 million during the quarter, compared to analysts’ expectations of $316.03 million. During the same quarter last year, the company posted $0.17 earnings per share. Shake Shack’s quarterly revenue was up 14.7% on a year-over-year basis. On average, research analysts forecast that Shake Shack Inc. will post 0.82 earnings per share for the current fiscal year.

Insider Transactions at Shake Shack

In other news, Director Daniel Harris Meyer sold 22,691 shares of Shake Shack stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $124.47, for a total value of $2,824,348.77. Following the transaction, the director now owns 437,646 shares in the company, valued at approximately $54,473,797.62. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Katherine Irene Fogertey sold 321 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $103.93, for a total transaction of $33,361.53. Following the transaction, the chief financial officer now owns 36,180 shares of the company’s stock, valued at $3,760,187.40. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,433 shares of company stock worth $7,654,856 over the last quarter. Company insiders own 9.73% of the company’s stock.

Shake Shack Company Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.